Man loses $20,000 with one phone call: ‘That’s hard to accept’
- Replies 16
Disclaimer: The name with an asterisk (*) has been changed to protect the person's privacy in this story.
In an age where technology has made banking more accessible and convenient than ever, it also paved the way for a new breed of sophisticated scams that can catch people off guard.
A man's recent experience is a stark reminder of this reality, as he watched a staggering $20,000 vanish from his savings account after a single phone call.
The 32-year-old, a customer of UBank–a subsidiary of the National Australia Bank (NAB)–fell victim to a convincing phone scam.
The man’s older sister, Lanie*, said the ordeal began with what seemed like a harmless text message from his bank, which was the start of a more elaborate fraud.
The message appeared from a random Australian number, which read, ‘Suspected fraudulent transaction of $0.0 has been detected…Please respond CANCEL if you would like us to cancel your card and reissue a new card to your address.’
Initially sceptical, the man confirmed with UBank that the message was legitimate.
Three weeks later, the man received a call from an unknown number. The caller, who spoke with an Australian accent, claimed to be a UBank employee and was alarmingly well-informed.
He knew the last four digits of the man's credit card, his recent transactions and even provided a reference number.
This level of detail gave the scammer credibility, and the man, who had been saving hard to buy his first home, provided a PIN that had been texted to him, believing it to be a step in confirming his identity.
Unfortunately, it was the security code the scammers needed to drain his accounts.
‘It’s really clever in hindsight,’ Lanie* said, adding that ‘the scammer was really professional sounding’.
The scammer kept her brother on the phone for half an hour, distracting him from checking his bank accounts.
‘A few minutes on the phone and suddenly $20,000 gone, that’s hard to accept,’ she said.
‘While he was on the phone with the scammers, he saw the transaction go through, two lots of $10,000. He hung up right away.’
A UBank staff member said the investigation would take 45 days. And despite the man's immediate report of the fraud, the bank did not contact the recipient bank for three days.
UBank asserted that the delay wouldn't hinder the recovery process since the funds were withdrawn from the account on the same day they were transferred out.
A spokesperson from UBank stated that they couldn't provide a specific comment for privacy reasons and declined a request for the customer to sign a waiver to share more information with the media.
They clarified that the two events–the text message from UBank and the subsequent call from the scammer–were not related.
While confirming the authenticity of the original text message, UBank mentioned that they typically ‘don't send links in unexpected SMSs’.
‘So never click on a link in a text claiming to be from Ubank, it’s likely a scam,’ the spokesperson said.
‘Additionally, we will never text or call customers and ask for them to provide personal information, one-time passcodes or PINs. If customers receive a call purporting to be from UBank that feels suspicious, hang up. Then call us immediately.’
UBank offered a $1,000 goodwill gesture, which the man declined, opting instead to lodge a complaint with the Australian Financial Complaints Authority (AFCA).
‘Out of the two of us, he’s the more diligent one,’ Lanie* said.
‘I was shocked this happened to him. It’s a lot of money to get over, especially when you’re trying to save for a house in Melbourne. It happened so quickly.’
She also questioned the security measures and communication strategies employed by UBank.
‘Why did they text him with a random SMS number from UBank when they (banks) teach people not to respond (to that),’ she asked.
This wasn’t the first time UBank received backlash from its customers.
In a previous story, thousands of its customers received a text message claiming to be from UBank, saying their spending limit has been restricted. You can read more about this story here.
Have you or someone you know been targeted by similar fraud attempts? Let us know in the comments below.
In an age where technology has made banking more accessible and convenient than ever, it also paved the way for a new breed of sophisticated scams that can catch people off guard.
A man's recent experience is a stark reminder of this reality, as he watched a staggering $20,000 vanish from his savings account after a single phone call.
The 32-year-old, a customer of UBank–a subsidiary of the National Australia Bank (NAB)–fell victim to a convincing phone scam.
The man’s older sister, Lanie*, said the ordeal began with what seemed like a harmless text message from his bank, which was the start of a more elaborate fraud.
A man fell victim to a UBank phone scam. Credit: Freepik
The message appeared from a random Australian number, which read, ‘Suspected fraudulent transaction of $0.0 has been detected…Please respond CANCEL if you would like us to cancel your card and reissue a new card to your address.’
Initially sceptical, the man confirmed with UBank that the message was legitimate.
Three weeks later, the man received a call from an unknown number. The caller, who spoke with an Australian accent, claimed to be a UBank employee and was alarmingly well-informed.
He knew the last four digits of the man's credit card, his recent transactions and even provided a reference number.
This level of detail gave the scammer credibility, and the man, who had been saving hard to buy his first home, provided a PIN that had been texted to him, believing it to be a step in confirming his identity.
Unfortunately, it was the security code the scammers needed to drain his accounts.
‘It’s really clever in hindsight,’ Lanie* said, adding that ‘the scammer was really professional sounding’.
The scammer kept her brother on the phone for half an hour, distracting him from checking his bank accounts.
‘A few minutes on the phone and suddenly $20,000 gone, that’s hard to accept,’ she said.
‘While he was on the phone with the scammers, he saw the transaction go through, two lots of $10,000. He hung up right away.’
A UBank staff member said the investigation would take 45 days. And despite the man's immediate report of the fraud, the bank did not contact the recipient bank for three days.
UBank asserted that the delay wouldn't hinder the recovery process since the funds were withdrawn from the account on the same day they were transferred out.
The man believed the scammer claimed to be a UBank employee. Credit: Freepik
A spokesperson from UBank stated that they couldn't provide a specific comment for privacy reasons and declined a request for the customer to sign a waiver to share more information with the media.
They clarified that the two events–the text message from UBank and the subsequent call from the scammer–were not related.
While confirming the authenticity of the original text message, UBank mentioned that they typically ‘don't send links in unexpected SMSs’.
‘So never click on a link in a text claiming to be from Ubank, it’s likely a scam,’ the spokesperson said.
‘Additionally, we will never text or call customers and ask for them to provide personal information, one-time passcodes or PINs. If customers receive a call purporting to be from UBank that feels suspicious, hang up. Then call us immediately.’
UBank offered a $1,000 goodwill gesture, which the man declined, opting instead to lodge a complaint with the Australian Financial Complaints Authority (AFCA).
‘Out of the two of us, he’s the more diligent one,’ Lanie* said.
‘I was shocked this happened to him. It’s a lot of money to get over, especially when you’re trying to save for a house in Melbourne. It happened so quickly.’
She also questioned the security measures and communication strategies employed by UBank.
‘Why did they text him with a random SMS number from UBank when they (banks) teach people not to respond (to that),’ she asked.
This wasn’t the first time UBank received backlash from its customers.
In a previous story, thousands of its customers received a text message claiming to be from UBank, saying their spending limit has been restricted. You can read more about this story here.
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